The Central Bank of Iran on Tuesday urged all credit institutions to update the list of their foreclosed assets and properties every three months. The institutions now need to provide the CBI with the list and required documents within a month after the decree is communicated to them, IRNA reported. Under Article 1 of the law approved on June 17 to remove barriers to competitive production and improve the financial system, the CBI’s decree has so far been announced to the chief executives of private and state-owned banks, Post Bank Iran, and only four of the credit institutions, including Tose’e, Kosar, Askarieh and Nour, the report said.
